India decision against Safta spirit
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
January 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, JANUARY 30, 2023
India decision against Safta spirit

Analysis

Professor Mustafizur Rahman
14 November, 2020, 10:15 pm
Last modified: 14 November, 2020, 11:52 pm

Related News

  • Who is the strongest Keanu?
  • Quebec focuses on French-speaking immigrants as companies plead for workers
  • What you need to know right now about Pakistan's politics
  • What would a US ban on Russian oil mean for the world?
  • UP polls: In the eyes of CECs

India decision against Safta spirit

It is important to inform India that Bangladesh also can retaliate in response to these rules and if it does that will result in losses for both the parties

Professor Mustafizur Rahman
14 November, 2020, 10:15 pm
Last modified: 14 November, 2020, 11:52 pm
India decision against Safta spirit

The South Asian Free Trade Agreement (Safta) allows the institutions concerned in the exporting countries to issue certificates of origin and the importing countries provide duty-free access to those products based on those.

Bangladeshi products have thus far enjoyed duty-free access to India under this mutual recognition.

If India had any concerns regarding this, it could have discussed those with Bangladesh. But the country did not do so. Instead, it has put in force a new set of rules entitling customs officers with supreme power, which might hamper Bangladesh's imports.

Now Indian customs officials can cancel the duty-free access facility for any product. This does not go with the spirit of Safta.

The Indian customs will be able to levy anti-dumping duty on Bangladeshi products based on the information collected from Bangladeshi exporters through their importers.

Earlier, India had also imposed anti-dumping duties on jute products, but, in doing so, the country did not take any account from Bangladesh – it calculated and imposed this duty unilaterally.

Under the new rules, there is a risk of imposing this duty on various products of a company after collecting the production cost of those products.

Through bilateral platforms, the Bangladesh government has to let India know that the new rules are not in line with Safta and that Bangladesh is concerned about this.

It is important to inform India that Bangladesh also can retaliate in response to these rules and if it does that will result in losses for both the parties.

Diplomatic efforts must continue to ensure that India complies with the provisions of Safta.

It is also important for exporters to keep accurate accounts so that they can present the information if needed. Bangladeshi exporters also have some shortcomings in this regard, which need to be addressed. This requires preparation.


Dr Mustafizur Rahman is a distinguished fellow at CPD and he gave his opinion to The Business Standard reporter Abul Kashem over the phone.

Top News

Analysis / Safta

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Collected
    Economic slump drags down growth in VAT collection from big cos
  • It's corruption that bites business harder: CPD
    It's corruption that bites business harder: CPD
  • Import slowdown to affect economic growth: ADB country head
    Import slowdown to affect economic growth: ADB country head

MOST VIEWED

  • Getting gas to India will be even more costly than laying this pipe to China.Photographer: Andrey Rudakov/Bloomberg
    Russia can't replace the energy market Putin broke
  • Illustration: TBS
    Biz leaders want crisis management, energy security for survival
  • A proper price formula can help investors to plan big
    A proper price formula can help investors to plan big
  • SK Bashir Uddin: TBS sketch
    Investments risky without consistent policy, reliable data
  • Shams Mahmud. TBS Sketch
    Lack of coordination, policy biggest problems
  • TBS Talk: What Lies Ahead
    TBS Talk: What Lies Ahead

Related News

  • Who is the strongest Keanu?
  • Quebec focuses on French-speaking immigrants as companies plead for workers
  • What you need to know right now about Pakistan's politics
  • What would a US ban on Russian oil mean for the world?
  • UP polls: In the eyes of CECs

Features

Nandita Sharmin's journey to give organic skincare a new identity

Nandita Sharmin's journey to give organic skincare a new identity

11h | Mode
Illustration: TBS

'The silver lining is that the worst is sort of behind us': Hamid Rashid, UN economist

15h | Panorama
Photo: Bloomberg

BuzzFeed and AI are a match made in fad city

14h | Panorama
Snipe in flight. Photo: Enam Ul Haque

Baikka Beel: 'A world where snipe work late'

1d | Panorama

More Videos from TBS

Sarika Sabrin is waiting for a good film

Sarika Sabrin is waiting for a good film

5h | TBS Entertainment
Take your football game to the next level at Next Level academy

Take your football game to the next level at Next Level academy

6h | TBS SPORTS
“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

8h | TBS Round Table
What does Shahrukh has in his 770 million dollar property?

What does Shahrukh has in his 770 million dollar property?

1d | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

4
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

5
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]t